inside
fight and in FI fteen million were wounded
The Gold Standard and the Gold Exchange Standard
The parity of the gold standard, which survived, until 1971 of watered was classical gold share, a monetary system, where gold money and state-belonging was notes and coins were the indications freely, which are exchangeable in gold by national central banks for everyone and everyone. Supported by the global hegemony of the British empire the classical gold share reached its bloom time of the Pax Britannica between 1870, when the napoleonischen wars and 1914 terminated, when the First World War began. In the order to be to free to print money if necessary around the war to financiers leading the war in confl the IuK shifted commutability of its currencies in gold, before the war began. After the devastating accident and social, for economic/political landscape of the costs of the war of the world changed.
Eight million men were slaughtered in the fight and in FI fteen million were wounded, many so strictly that they were invalids for the life. Attempts to repair the classical gold share in the years between the end of the First World War 1918 and the outbreak of the world formed war II 1939 however conditions were thus changed after the war, which spreads far re-establishment of the gold share could is not obtained. US kept commutability of the dollar in gold until 1933. But afterwards 1914, with few exceptions, most national currencies could not be exchanged against gold any more. America emerged from the war in the strongest FI-nancial position all war prominent and, in the years, like its economic and military and global 52 D e m y s t I f y I n g t h e.g. O L D p r I C e could hegemony grew, a dollar standard, which was developed by the gold share and which dollar came, the role of the gold as universal money to seize. If the Bretton Woods became 1944 agreements defi ned the structure for the international monetary system posts of the Second World War, that the dollar even the numeraire for the currencies international system. However, to gold of US president Richard M. Nixon inside demonetized 1971, remained it in the center of the international monetary system and strange treasury kept the right, US to connect, calculations in the gold in place of the dollar to settle. After the Entmonetisierung of the gold in 1971 the decade of the seventies-years is reminded as the large infl ation with some years of the two digit infl ation. Surprising with such high infl ation is not it that a return to the gold share was a political topic in the eighties. We can receive a direction of the expenditures, which could be debated, if a return to the gold were now regarded, by repeating opinions over gold in the run up to the 1979 US president elections. The choice one competed past president Jimmy Carter and California governor Ronald Reagan.
